Gateway Commercial Finance, a nationwide provider of invoice factoring solutions, provided a $1.25 million invoice factoring facility to a Tampa-based commercial bakery.
The business was recently acquired by a portfolio company specializing in the acquisition and turnaround of distressed businesses within the food industry. The new ownership group plans to strengthen the bakery’s operations and eventually consolidate portions of the business into its existing operations in the Northeast.
Gateway’s factoring facility will provide immediate liquidity against eligible accounts receivable, giving the bakery additional working capital to support production, fulfill customer orders, manage operating expenses and execute its post-acquisition transition strategy.
“This transaction demonstrates how invoice factoring can provide timely and critical liquidity during an acquisition, turnaround or operational transition,” Marc J. Marin, managing director of Gateway Commercial Finance, said. “By converting receivables into immediate working capital, we are helping the company maintain continuity, support its retail customers and position the business for future growth.”
